Indiana Foreclosure Rescue Legislation Pending

Indiana Senate Bill 390, which proposes to regulate foreclosure rescue consultants and purchasers, is currently working its way up the Indiana state legislature. One feature in the proposed bill, which is similar to the newly enacted statutes in Illinois and New York, is that there is a provision requiring a "foreclosure purchaser" to pay to a homeowner 82% of the proceeds of any resale of property.

Click here to view Indiana Senate Bill 390.
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